Etymology
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economical (adj.)

1570s, "pertaining to household management;" from economic + -al (1). Sense of "pertaining to political economy" is from 1781, but that sense more commonly goes with economic, and the main modern sense of this spelling is "thrifty" (1780). Related: Economically.

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Definitions of economical

economical (adj.)
using the minimum of time or resources necessary for effectiveness;
a modern economical heating system
an economical use of her time
Synonyms: economic
economical (adj.)
of or relating to an economy, the system of production and management of material wealth;
aspects of social, political, and economical life
Synonyms: economic
economical (adj.)
avoiding waste;
an economical shopper
an economical meal
Synonyms: frugal / scotch / sparing / stinting
From wordnet.princeton.edu